Two consortiums acquire EDF’s 65.01% stake in Dunkirk LNG
EDF has sold its 65.01% stake in the liquefied natural gas (LNG) terminal in Dunkirk, France, to two separate consortiums.
The firm’s total stake, which was divided into 31% and 34.01%, has been valued at €2.4bn (US$2.79b).
The Belgian infrastructure firm, Fluxys, was a member of one of the consortiums, along with AXA Investment Managers – Real Estate, which was reflecting its client Crédit Agricole Assurances.
This consortium acquired 31% of the French utility giant’s stake in the Dunkirk LNG terminal. Fluxys already had a 25% stake in French gas terminal.
EDF sold the remaining 34.01% shares to IPM Group, Samsung Asset Management, IBK Securities, and Hanwha Investment & Securities.
“This transaction illustrates EDF Group’s capacity to create value in building complex infrastructure projects,” stated Marc Benayoun, Senior Executive Vice President for Gas and Italy at EDF Group.
“We will remain engaged as a client with the terminal to support the development of the Group’s activities in the European gas market.”
“Having Fluxys as core shareholder is a key asset for the Dunkirk LNG terminal,” noted Pascal De Buck, Fluxys’ Managing Director an CEO.
“We have extensive first-hand experience with the facility as we have been partner from the very onset and we are committed to move its business forward while ensuring a top-notch operational record with clients and high safety and environmental standards.”
“The Dunkirk LNG terminal will also benefit from the LNG expertise within the Fluxys group and especially at the Zeebrugge LNG terminal.”
“Besides our strong industrial expertise, we bring with our partners AXA Investment Managers - Real Assets and Crédit Agricole Assurances a long-term investment outlook and financial strength.”
Global Offshore rebrands Enelift and invests in global hubs
Global Offshore has rebranded Enelift and will invest "a seven-figure sum" in establishing new support hubs in Houston, Dubai, Singapore, Perth and the Caspian during the next six months.
The investment will cover oil, gas and renewables, mainly concentrating on manufacturing capability with associated R&D, as well as in stock held in the hubs.
The company’s flagship Hinge Lok technology provides aluminium, non-welded light weight transportation cradle for casing and tubing. Enelift now plans to enhance its offering by augmenting its existing solutions with robotics and remote operational and training technology, which will reduce manpower for handling offshore equipment that is transported and stored using the Hinge Lok system.
Enelift is partnering with "a Japanese robotics company" and the technology will be trialed with "a Norwegian operator on a Norwegian drilling rig", according to a statement.
Operating from its bases in Aberdeen, UK and Esbjerg, Enelift was founded by 35-year industry veteran and Managing Director Paul Brebner 10 years ago to offer the offshore energy industries safe, reliable and efficient storage and transportation of equipment.
The expansion plans are bolstered by the appointment of Jim Clark of the Craigendarroch Group to Chairman, and Adam Maitland to Non-Executive Director. Maitland is the Managing Director of Hutcheon Mearns IF, and brings his wealth of expertise in the field of corporate finance.
Brebner said Enelift may be a new name in the market, but the experience it brings is "industry renowned".
"Our solutions are underpinned by safety that enables inefficiencies and their associated costs to be eradicated – meaning operational personnel can focus doing what they do best, safely. We remain committed to providing the safest storage and transportation solutions for equipment in the sector as we grow our global operations," he said.
Clark said the market is changing and its solutions fully support customers’ economic and safety aspirations.
"We are very well placed to take full advantage of increasing opportunities in the Middle East, Africa, Far East and Americas. Safety is our absolute commitment to our customers and our support hubs will facilitate this. Aligning our identity to our entire offering ensures that we will drive our expansion through new products and global support sites across the rest of this year."